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Council accepts Foster & Foster proposal for actuarial and GASB 75 work ($8,000)
Summary
Resolution 26-28 accepts Foster & Foster Consulting Actuaries to produce actuarial reports and GASB 75 disclosure for FY2026 and FY2027 at a fee of $8,000; staff said the firm succeeded the prior consultant and the item is recurring.
The council voted to accept Foster & Foster Consulting Actuaries to prepare actuarial reports and GASB 75 disclosure information for the fiscal years ending June 30, 2026 and June 30, 2027.
City staff (Harris) said the agreement is recurring, the city previously used a different actuary before switching to Foster & Foster in 2024, and the consultant’s fee is set at $8,000. A councilor observed it is helpful to have an experienced provider prepare the accounts the city must include in budget reporting.
The resolution was approved on introduction with no further amendment; staff will execute the agreement and budget for the $8,000 fee.
